Blis Joins T-Mobile in $175 Million Acquisition
Deal News | Mar 05, 2025 | LDC
Private equity investor LDC has completed its exit from Blis, selling the advertising technology company to telecommunications giant T-Mobile for $175 million. LDC's investment in Blis began in June 2022, focused on supporting the company through key strategic expansions and enhancements of its omnichannel targeting capabilities. During the three-year partnership, Blis experienced a 75% increase in turnover and expanded its workforce from 240 to over 320 employees, achieving significant growth across Europe, the USA, and Asia. Known for its privacy-centric advertising solutions, Blis is expected to enhance T-Mobile's marketing efficacy by providing advanced, cookie-less targeting technologies. Blis was originally founded by Greg Isbister with support from The King's Trust, a charity LDC has continually backed since 2019. This acquisition by T-Mobile will afford Blis greater resources to innovate and expand its offerings. Strategic advice for the deal was provided by Houlihan Lokey and DLA Piper LLP for LDC and Blis, while Allen & Company and Cleary Gottlieb Steen & Hamilton LLP advised T-Mobile.
Sectors
- Private Equity
- Advertising Technology
- Telecommunications
Geography
- United States – This is where T-Mobile, the acquirer, is based and operates some of its largest advertising campaigns.
- Europe – Blis has expanded significantly across this region with LDC's support.
- Asia – Blis has recorded significant growth in its operations here, expanding its client base.
- Global – Reflecting Blis's extensive expansion and client engagement across multiple continents.
Industry
- Private Equity – Involves the investment and management of stakeholder interests in privately held companies.
- Advertising Technology – Blis offers innovative solutions in privacy-centric and omnichannel advertising, aimed at enhancing marketing strategies.
- Telecommunications – T-Mobile is a key player in this sector, looking to improve its advertising capabilities through technology advances.
Financials
- $175 million – Valuation of the transaction between LDC and T-Mobile for the acquisition of Blis.
- 75% – Increase in Blis's turnover during the partnership with LDC.
- 240 to over 320 – Expansion of Blis's workforce during LDC's investment period.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Blis | Target Company | Company | Provider of privacy-centric advertising solutions and advanced omnichannel targeting capabilities. |
| LDC | Selling Company | Company | Leading private equity investor, facilitated Blis's growth and expansion since 2022. |
| T-Mobile | Bidding Company | Company | Acquired Blis to enhance its advertising capabilities with advanced targeting technology. |
| Houlihan Lokey | Financial Advisor | Company | Financial advisor for LDC and Blis in the transaction. |
| DLA Piper LLP | Legal Advisor | Company | Legal advisor for LDC and Blis in the transaction. |
| Allen & Company | Financial Advisor | Company | Financial advisor for T-Mobile in the transaction. |
| Cleary Gottlieb Steen & Hamilton LLP | Legal Advisor | Company | Legal advisor for T-Mobile in the transaction. |
| Greg Isbister | Founder & CEO of Blis | Person | Led Blis through its growth phase with LDC's support and continues his role post-acquisition. |
| The King's Trust | Supporting Charity | Charity | Initially assisted Blis with funding and is supported by LDC. |